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globalCOAL Newcastle Coal Qtr 1x Options (Futures Style Margin)69732254
ICE Futures Europe

globalCOAL Newcastle Coal Qtr 1x Options (Futures Style Margin)

Description

The ICE gC Newcastle Coal Single Expiry Options contract is an option on the underlying monthly expiry ICE gC Newcastle Coal futures contract. A quarterly single expiry option will expire equally into the three underlying months which make up that quarter. For example, a 5 lot Q1 gC Newcastle Coal single expiry option, if exercised, will result in 5 lots of each of a Jan, Feb , and Mar Newcastle Coal futures contract.

Market Specifications

Trading Screen Product Name
Newcastle Coal Futures
Trading Screen Hub Name
Newcastle 1x Qtr (Futures-style)
Contract Symbol
NWD
Hedge Instrument
gC Newcastle Coal Futures
Unit of Trading
Any multiple of 1,000 metric tonnes
Minimum Block Order
5 lots = 5,000 metric tonnes
Currency
US Dollars and cents
Quotation
Dollars per tonne
Minimum Price Fluctuation
One cent ($0.01) per metric tonne
Last Trading Day
Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day
Option Style
European style options, exercisable into NCF. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
Option Premium
Futures Style
Strike Price Increments
A minimum of 5 strike prices in increments of $0.05 above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. IFEU may add one or more strike prices nearest to the last price listed as necessary
Contract Series
12 consecutive quarters
Business Days
UK Business days
Trading Hours
01:00-23:00 London time
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York8:00 PM - 6:00 PM*
20:00 - 18:00
7:55 PM
19:55
London1:00 AM - 11:00 PM*
01:00 - 23:00
12:55 AM
00:55
Singapore9:00 AM - 7:00 AM*
09:00 - 07:00
8:55 AM
08:55

*Next Day

Codes

Clearing Admin Name
O-Coal Newc
Physical
NWD
Logical
NWD
GMI (FC)
OY
Symbol Code
NWD